The European Commission (EC) has launched a public consultation on a list of US imports that could be subject to EU countermeasures if ongoing negotiations between the parties do not result in a mutually beneficial outcome and the removal of US tariffs. The list under consultation concerns imports from the United States worth €95 billion, covering a wide range of industrial and agricultural products.
The commission is also planning for possible restrictions on certain EU exports of steel scrap and chemicals to the US worth €4.4 billion.
Meanwhile, the EU will initiate a World Trade Organization (WTO) dispute against the US over its reciprocal tariffs and tariffs on cars and car parts. The commission believes that these tariffs blatantly violate fundamental WTO rules.
According to the statement, the commission continues to closely monitor the potential diversion of global exports to the EU market, due to US tariffs. The commission said it will continue to negotiate with other trading partners to find new export outlets and diversify the EU’s supply sources.